|Market Size in 2013||Market Forecast in 2018||Growth Rate (in %)||Base Year|
|USD 87.5 Million||USD 95.6 Million||CAGR at 22%.||2013|
Robot Sensor Market
The robot sensor market is driven by the rising demand for robotics in the automotive sector. In 2017, the total robot sales in this sector increased by 22% as compared to 2016. With numerous automotive manufacturers aiming to increase their vehicle manufacturing capacity, the demand for robots is projected to grow over the forecast timeframe. This is evident form the growing number of vehicles manufactured annually. In 2018, the total vehicles manufactured were around 95.6 million units in comparison to 87.5 million units in 2013. This is due to the rising adoption of automation and it is expected that the trend will continue. Thus, the demand for robot sensors market is bound to rise.
Rising demand in the healthcare sector is driving the market. Robots are manly used in medical transportation, surgical assistance, rehabilitation, and many more. Various organizations that provide robots to this industry are investing heavily in robotics. In 2019, organizations such as Intuitive Surgical Inc. and Corindus Vascular Robotics Inc. invested around USD 2,000 Million and USD 15 Million respectively that are driving the demand for robot sensors. However, high initial investments and maintaining regulatory compliance in the manufacturing of these sensors are anticipated to be major drawbacks for the market development during the forecast timespan. Growing adoption of “Internet of Things” (IoT) is anticipated to open new avenues for the market over the coming years.
Robot sensor market is bifurcated on the basis of product, application, and region. Based on product, the market is further segmented into light sensor, sound sensor, temperature sensor, contact sensor, navigation sensor, and others. The navigation sensor segment is projected to grow at a considerable rate considering the rising investments in technology. On the basis of application, the robot sensor market is divided into manufacturing, healthcare, agriculture, entertainment, residential, and others. The manufacturing segment is anticipated to witness significant demand for the robot sensors over the coming years. This growth is due to the adoption of robots in various assembly lines over the product manufacturing process.
|Report Attributes||Report Details|
|Report Name||Robot Sensor Market Research Report|
|Market Size in 2013||USD 87.5 Million|
|Market Forecast in 2018||USD 95.6 Million|
|Growth Rate||CAGR of 22%.|
|Number of Pages||196|
|Key Companies Covered||ATI Automation, Baumer Group, SICK AG, Baluff AG, Honeywell International Inc., Infineon Technologies, CAPTRON Electronic GmbH, Bionic Robotics, Cognex Corporation, Epson Corporation, FANUC, and Schneider Electric among others. Major players are focusing on acquisition to expand their business and gain a competitive advantage in the market.|
|Segments Covered||By Product, By Application and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2013 to 2018|
|Forecast Year||2018 - 2025|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Asia Pacific region is anticipated to capture a substantial chunk of the global robot sensor market over the forecast period. China, South Korea, and Japan are projected to generate huge demand for the product in this region. Rising investments in robotics is fueling the demand for robot sensors. Latin America is anticipated to witness notable rise in the robot sensor market over the estimated timespan. This growth is due to the rising demand for automation in the agriculture sector. Brazil and Argentina are expected to be the most lucrative markets in this region.
Noticeable players in robot sensor market include:
Major players are focusing on acquisition to expand their business and gain a competitive advantage in the market.